
Norway - Palm Kernel And Babassu Oil - Market Analysis, Forecast, Size, Trends and Insights
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Norway: Palm Kernel Oil Market Overview 2021
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Palm Kernel Oil Market Size in Norway
The Norwegian palm kernel oil market fell markedly to $X in 2019, declining by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a significant decline. The pace of growth appeared the most rapid in 2016 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2008; however, from 2009 to 2019, consumption remained at a lower figure.
Palm Kernel Oil Exports
Exports from Norway
In 2019, palm kernel oil exports from Norway soared to X kg, jumping by X% compared with 2018 figures. Overall, exports showed resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Exports peaked in 2019 and are expected to retain growth in the near future.
In value terms, palm kernel oil exports expanded remarkably to $X in 2019. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Exports peaked at $X in 2007; however, from 2008 to 2019, exports failed to regain the momentum.
Exports by Country
The Netherlands (X kg) was the main destination for palm kernel oil exports from Norway, accounting for a approx. X% share of total exports.
From 2007 to 2019, the average annual rate of growth in terms of volume to the Netherlands totaled +X%.
In value terms, the Netherlands ($X) also remains the key foreign market for palm kernel oil exports from Norway.
From 2007 to 2019, the average annual growth rate of value to the Netherlands amounted to -X%.
Export Prices by Country
In 2019, the average palm kernel oil export price amounted to $X per tonne, shrinking by -X% against the previous year. Overall, the export price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% against the previous year. The export price peaked at $X per tonne in 2007; however, from 2008 to 2019, export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for the Netherlands.
From 2007 to 2019, the rate of growth in terms of prices for the Netherlands amounted to -X% per year.
Palm Kernel Oil Imports
Imports into Norway
In 2019, the amount of palm kernel and babassu oil imported into Norway dropped notably to X tonnes, which is down by -X% on the year before. In general, imports saw a dramatic slump. The growth pace was the most rapid in 2018 with an increase of X% year-to-year. Imports peaked at X tonnes in 2008; however, from 2009 to 2019, imports stood at a somewhat lower figure.
In value terms, palm kernel oil imports declined markedly to $X in 2019. Overall, imports faced a dramatic decrease. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2010; however, from 2011 to 2019, imports failed to regain the momentum.
Imports by Country
In 2019, Sweden (X tonnes) constituted the largest palm kernel oil supplier to Norway, accounting for a X% share of total imports. Moreover, palm kernel oil imports from Sweden exceeded the figures recorded by the second-largest supplier, Denmark (X kg), fivefold.
From 2007 to 2019, the average annual rate of growth in terms of volume from Sweden amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-X% per year) and the Netherlands (-X% per year).
In value terms, Sweden ($X) constituted the largest supplier of palm kernel oil to Norway, comprising X% of total imports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of total imports.
From 2007 to 2019, the average annual growth rate of value from Sweden stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-X% per year) and Denmark (-X% per year).
Import Prices by Country
In 2019, the average palm kernel oil import price amounted to $X per tonne, surging by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X% y-o-y. As a result, import price attained the peak level of $X per tonne. From 2017 to 2019, the growth in terms of the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the Netherlands ($X per tonne), while the price for Sweden ($X per tonne) was amongst the lowest.
From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the Netherlands, while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox AI Platform
Frequently Asked Questions (FAQ) :
What are the largest markets for palm kernel and babassu oil in the world?+
The countries with the highest volumes of palm kernel oil consumption in 2019 were Indonesia (2.8M tonnes), Malaysia (1.9M tonnes) and China (802K tonnes), together accounting for 66% of global consumption.
What are the largest producers of palm kernel and babassu oil in the world?+
Indonesia (4.7M tonnes) constituted the country with the largest volume of palm kernel oil production, comprising approx. 56% of total volume. Moreover, palm kernel oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (2.3M tonnes), twofold. Thailand (276K tonnes) ranked third in terms of total production with a 3.3% share.
What are the leading suppliers of palm kernel and babassu oil to Norway?+
In value terms, Sweden ($1.9K) constituted the largest supplier of palm kernel oil to Norway, comprising 53% of total imports. The second position in the ranking was occupied by the Netherlands ($835), with a 24% share of total imports.
What are the leading importers of palm kernel and babassu oil from Norway?+
In value terms, the Netherlands ($349) remains the key foreign market for palm kernel oil exports from Norway.
What is the average export price for palm kernel and babassu oil in Norway?+
The average palm kernel oil export price stood at $830 per tonne in 2019, waning by -4.5% against the previous year.
What is the average import price for palm kernel and babassu oil in Norway?+
In 2019, the average palm kernel oil import price amounted to $1,318 per tonne, surging by 39% against the previous year.
This report provides an in-depth analysis of the palm kernel oil market in Norway. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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